Based on my experience, I find it is really suspicious to see shorts and analysts working at the same page for the second round (coincident? I doubt it).
In the first round: Shorts shorted very heavily, but stock stablized at around 7.5, then OpenHoney analyst downgraded one month after the earning news, citing AR issue (but the number was known one month ago).
In the second round: the same thing, shorted heavily, but stock stabilized around 7.2, this time YONG was fired twice: one idiot post garbage, second day analyst downgraded, citing draught is the reason: but Shengmingsu helps to relieve the draught situation, also major application of Shengmingsu is on veggies, not crops like wheat. Moreover, the analyst thinks PE4 is too high for a 50% growth company, why didn't he directly say that YONG is a fraud instead?
Conclusion: corrupted Wall Street, manipulated market, casino, you name it.
Hold for long term.
It really is pretty simple what has happened recently. The Street, CNBC, and the SEC are all over the news with articles and investigations of Chinese Micros. Grab them all and put a fence around them. Claim they are all scams until one by one, the real ones prove they are real and lose the label.
Yong is guilty by association. With KPMG, I lose zero sleep at night over the thought of Yong being a fraud. It will just take a little time for the good to be separated from the bad. In the meantime, load up and have some patience. The ride to $20/share is shorter than one thinks.
PMNPT - Enjoy your intelligent posts and read the board because of people like you.
I totally agree with your theory. If you add that this is far from been an isolated incident (see the China Agritech attack curiously just before the Chinese new year’s holyday: http://biz.yahoo.com/prnews/110204/cn42839.html?.v=1) , then you have a clear picture of Shorts on the loose with no one to control them.
It’s just amazing how any obscure so called analyst can so easily manipulate the market!
Ye (Ingrid) Yin, Ph.D.
Another Chinese girl as the analyst. She does not like CGA, CAGC, finally she found reason not like YONG.
Most Chinese man analysts are covering big guys, left with girls to cover small caps, poor YONG.
Ye (Ingrid) Yin, Ph.D?
What a sad reality for a Ph.D holder to work as some lowly analyst in a third tier firm! I wonder what her Ph.D was for. But she clearly doesn't have a farming and fertilizer background, and doesn't know what she's doing.
It's not about an analyst's gender. It is about their work experiences in each of the areas they cover. This Yin, together with Katherine Yu at Oppenheimer, were just plainly bad.
They simply failed to understand what YONG is rally about.
It's unfortunate that some of those fund managers actually follow those terrible "analysis"/write-ups.
Last time in late 2010, Katherine Yu created that bottom. I think this Ye Yin has also done the same.
I think YONG has bottomed, probably for the entire 2011.